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Why corporate travel expense management is a best practice to prioritise

Posted by on Jun 30, 2014 in Travel Spend Management | 0 comments

Many companies need their staff members to be mobile and in most cases it can be hard to keep track of every movement your staff members make, especially if you are running a large corporation. Of course it is the focus of all professional business owners to ensure costs and expenses are kept to a minimum, but that can be quite hard if staff members are booking trips and the expenses incurred cannot be monitored. If you want your business to profit from business trips taken by staff members, you will need to manage the incurred expenses and also ascertain whether each requested trip is absolutely necessary or not. Aside from the cost, the fact that employees also have a duty to ensure their travellers are safe whilst on business, means that being able to track and know where your people are has become crucial. The reason why travel expense management should be a top priority is that travel spending can get out of hand and the company can experience an unnecessary loss. Why you should implement corporate Travel Expense Management Software and systems Travel within the business can be monitored as staff members will have to request permission and provide reasons for travel to management. General management and financial management members can ascertain if the expenses proposed are worth the benefits of the trip to the business. Business travel is streamlined and all staff members will be treated precisely the same way when requesting travel permission. Systems such as TraveluXion will create a travel quotation that details all expenses to be expected as gathered by agencies and booking systems. When a staff member travels you can track all the incurred expenses, which makes it easier for financial departments to account for expenditure. The business can save on costs as only certain expenses will be covered and paid for upfront. These are just a few of the reasons why you should prioritise incorporating Business Travel Expense Management Software and systems into your...

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Get serious about financial compliance with travel expense management software

Posted by on Jun 23, 2014 in Travel Spend Management | 0 comments

Any business whether small, medium or large, will have certain rules and regulations in place when it comes to corporate travel and the expenses it can incur. Some corporate companies actually allow their staff members to travel for leisure purposes or as an incentive, whilst others strictly only allow this for business meetings, or the benefit of the company. The reason for these rules and regulations is that travelling can cost the business money and financial compliance is usually expected from staff members before their trip can be authorised and paid for by the company. Many companies have suffered losses at the hand of over or negligent spending by staff members and this has caused many business owners to become more involved when it comes to  financial compliance. This is where the TraveluXion travel expense management software has come in to save the day. What to expect from TraveluXion: TraveluXion is a user friendly interface that allows staff members to request travel privileges. The request is done via the system which is then sent on to the management members in charge of providing authorisation. If travel permission is granted, the real process of planning can begin. TraveluXion is able to provide a complete quotation as gathered by professional agencies or by making use of the embedded self booking tool(Amadeus e Travel Management). These quotes are embedded into the system and notifications of awaiting approvals are sent via email to the relevant approvers  will then either grant or denying the request . The managers involved will be able to scrutinise the travel plans and the reason for travel and the final decision will be made on how beneficial such a trip will be to the business and how reasonable the incurred expenses are when compared. This system thus helps to eliminate unnecessary travel and curb expenses when it is necessary, most importantly ensuring that full line of sight of any potential expenditure is made prior to the costs hitting the relevant cost centre.Regardless of your underlying ERP, TraveluXion can be rolled out in multi ERP environments and across multiple TMC environments. There is no doubt that this particular travel expense software is just the solution that corporate companies have been looking...

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Save on corporate travel costs with expense management software

Posted by on Jun 16, 2014 in Corporate Travel | 0 comments

Corporate travel expenses can sometimes rack up to an excessive amount. The problem with staff travel is that often too many expenses are overlooked and not enough detail is provided to the financial department to query spending and incurred costs. Many businesses have expressed a desire to be able to monitor travel spending better and curb excessive or unnecessary expenses. How do corporate travel expenses get out of hand? The answer is simple. In many corporations, travel might be necessary to the profitability of the business, but management doesn’t have a firm hold on the situation due to lack of visibility. Travel plans can be changed, extra expenses can be incurred and before you know it, the business is at a risk of loss/fraud/over expenditure or litigation due to lack of duty of care. In some cases staff members can be negligent with company accounts and in others it is just poor planning which results in extra expenses. What is the solution? What business expense management system is best? The solution to excessive business travel expenses being incurred is TraveluXion. This Business Expense Management Software is proving itself on the market. It has taken three years to develop by combining key elements of Amadeus and Fraction and the result is a user friendly travel management system that curbs spending and ensures that business travel doesn’t become an excuse for each staff member to spend business revenue. The TraveluXion system is designed to ensure that management and financial management members authorise not only business travel, but the expenses thereof. Each booking detail can be provided for scrutinising and if any changes are required after the booking, these have to be authorised too. Whilst the TraveluXion Travel Expense Management Software is not a booking system or travel agent, it will certainly ensure your bookings are made easy and that they are professionally handled at a cost-effective...

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Combine online booking with business expense management software for streamlined travel

Posted by on Jun 9, 2014 in Business Expense Management | 0 comments

When it comes to corporate travel, especially for medium to large sized corporations, the potential for over expenditure certainly exists. Whether it’s management travelling or other members of staff, it has become essential for financial heads and upper management teams to authorise travel and try to implement some sort of travel expense management system to monitor expenditure. Whether it intentional or not, some companies can lose valuable revenue on travel expenses and this is where TraveluXion saves the day. This particular software is not a travel management company, travel agency or booking system, it is a fully integrated expense management software system that can ensure your business saves on travel expenses and eliminates unnecessary travel. How does TraveluXion work? In summary: The system is designed to be completely user friendly and can be accessed and utilised by any approved person within the company. When travel is required, the user will log onto the system and submit a request. This request will provide the relevant approvers (both financial and line manager) with details for the reason for travel, the destination and potential booking costs. On approval from these approver (who will receive a request via email that an approval is pending), you can proceed to gather a quotation from the system. After this point, the travel expense management software will present the expected costs including all potential bookings, destination alerts, visa requirements,total cost of trip through to the financial authority, who  will then approve or deny the booking whilst having full line of sight of available budget for that particular cost centre. Approved bookings can be processed and travel expenses all detailed and monitored within a robut audit trail environment The system also allows for booking changes to be made at any stage of the process either pre or during the trip – these too must be approved by the relevant approval structure in order to be processed. If you are looking for ways in which to eliminateunnecessary travel expenditure and ensure all expenses are accounted for, then TraveluXion is certainly the product for you and your...

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